Proposed capital raising to support working capital needs and partially fund acquisition-related obligations
Supernet Technologies Limited plans to raise up to Rs914.77 million through a potential right issue of ordinary shares, seeking to strengthen its financial position, support future projects and partially finance a strategic acquisition, according to a notice submitted to the Pakistan Stock Exchange (PSX).
The company informed investors on Monday that its Board of Directors, in a meeting held on June 1, 2026, resolved to potentially undertake a right issue in the near future, subject to final approvals and regulatory requirements.
According to the disclosure, the aggregate size of the proposed right issue may reach up to Rs914,765,538. The company said the final amount and terms will be determined by the board at the time of launch. The shares, if issued, will be offered at a price not exceeding Rs10 per share.
Supernet said the proceeds are expected to be used primarily to support working capital requirements associated with upcoming projects that are anticipated to enhance operational performance and contribute to future growth.
Part of the funds will also be allocated toward financing a portion of the consideration payable to Telecard Limited under the Share Purchase Agreement signed on February 15, 2024. The agreement relates to the acquisition of a 51% stake in Supernet Limited.
The company added that any remaining proceeds may be utilized for other purposes as determined by the board in line with business requirements and strategic objectives.
According to the notice, the current board resolution is intended to facilitate shareholders, including associated concerns, in obtaining the necessary corporate and shareholder approvals required to participate in the proposed capital raising exercise. It will also allow investors to provide confirmations required under applicable legal and regulatory frameworks.
Supernet emphasized that the right issue has not yet been formally launched and remains subject to future approvals, final board authorization and compliance with applicable laws and market regulations.
Market participants view the proposed capital raising as a significant step toward strengthening the company’s balance sheet while supporting expansion initiatives and advancing its strategic investment plans. If executed, the right issue could provide additional financial flexibility to pursue new business opportunities and accelerate long-term growth.
